The economy of Morocco advanced 1.6 percent year-on-year in the third quarter of 2022, compared with an 8.7 percent growth in the same period last year. The expansion was driven by domestic demand despite stubbornly high inflation and an aggravation of the national economy's need for financing. On the production side, the services output growth eased to 5.7 percent from 8.9 percent a year ago, mainly dragged by a slowdown in transport & storage, research & development and business services, and vehicle trade & repair. In addition, the industrial sector grew at a slower 0.4 percent (vs 5.1 percent in Q3 2021), due to a contraction in mining, construction and utilities output. Agriculture activities shrank 15.1 percent, compared with a 16.6 percent growth a year earlier. source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco averaged 3.57 percent from 1999 until 2022, reaching an all time high of 14.20 percent in the second quarter of 2021 and a record low of -15.20 percent in the second quarter of 2020. This page provides the latest reported value for - Morocco GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Morocco GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
GDP Annual Growth Rate in Morocco is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.50 percent in 2024 and 3.70 percent in 2025, according to our econometric models.